Kazkommertsbank Announces Changes To The Management Board

Kazkommertsbank Reports 1st Half 2017 Financial Results

Kazkommertsbank (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with a press release of July 4, 2017 “to announce the approval of a new Management Board”.

The powers of the following members of the Management Board have been terminated on 3 July 2017 by resolution of the Board of Directors of Kazkommertsbank:

1)    Marc Holtzman – Сhairman of the Management Board;

2)    Abay M. Iskandirov – First Deputy Chairman of the Management Board;

3)    Rashid U. Amirov – Managing Director;

4)    Askar A. Darmenov – Managing Director;

5)    Sergey V. Yeltsov – Managing Director;

6)    Mukhit K. Inebekov – Managing Director;

7)    Mirzhan Y. Karakulov – Managing Director;

8)    Yerulan A. Kussainov – Managing Director;

9)    David Mashuri – Managing Director;

10)  Murat K. Suleymenov – Managing Director

By resolution of the Board of Directors of Kazkommertsbank, the following new members have been elected to the Management Board:

1)    Ulf Wokurka – Chairman of the Management Board;

2)    Ulan S. Baizhanov – Deputy Chairman of the Management Board;

3)    Larissa P. Zdanovich – Deputy Chairperson of the Management Board;

4)    Zhannat S. Satubaldina – Deputy Chairperson of the Management Board

As of 4 July 2017, the composition of the Management Board of Kazkommertsbank is as follows:

1)    Ulf Wokurka – Chairman of the Management Board;

2)    Ulan S. Baizhanov – Deputy Chairman of the Management Board;

3)    Larissa P. Zdanovich – Deputy Chairperson of the Management Board;

4)    Dauren Z. Sartayev – Deputy Chairman of the Management Board;

5)    Zhannat S. Satubaldina – Deputy Chairperson of the Management Board

6)    Nurlan T. Zhagiparov – Managing Director, Member of the Management Board

Pursuant to the applicable laws of the Republic of Kazakhstan, the appointment of new members to the Management Board is subject to approval by the National Bank of Kazakhstan.

About Kazkommertsbank

Kazkommertsbank (KKB) is one of the largest banks in Kazakhstan and Central Asia with total assets of KZT 4,866 billion at 31 December 2016.

In addition to its core banking business (retail and corporate) KKB has subsidiaries active in pension fund management, asset management, insurance and brokerage. KKB also has foreign subsidiaries in the Russian Federation, Kyrgyzstan and Tajikistan.

Major shareholders of Kazkommertsbank include Mr. Kenges Rakishev, Central Asian Investment Company and Mr. Nurzhan Subkhanberdin, Qazaq Financial Group, the Kazakh Government through the Samruk-Kazyna National Welfare Fund. KKB’s predecessor, Medeu Bank, was founded in July 1990, and re-registered as Kazkommertsbank in October 1991. KKB completed an IPO in GDR form on the London Stock Exchange in November 2006, the first CIS bank to do so, in a deal totalling US$845 million. The Bank’s shares are listed on the Kazakhstan Stock Exchange.

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